TopOptionAlert
Oct 24, 4:43 AM
$TSM NOV20 430C · still actionable
Zone:
$415.58 to
$421.44
Invalidation: close under
$410
Objectives:
$435, then
$455
The math: up 3.9% to the first objective and 8.7% to the second, against 2.0% risk on the invalidation, better than 4 to 1 to the second.
Think of it like catching a ball that just hit the floor. TSM fell from almost
$488 to
$410 since early October, and on Friday it bounced off that
$410 shelf where buyers stepped in twice. This is a swing into the next sales report, which is the first hard number since earnings and the real test of whether this bounce has legs. You are risking a close back under
$410 to see if the biggest chip maker in the world can climb back toward
$435 and
$455.
P.S. That sales report lands November 10, ten days before these calls expire, so the catalyst comes with time to spare.
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